Language service providers around the globe have been heavily impacted by the economic downturn, but optimism for growth next year has increased substantially, according to the Globalization and Localization Association’s (GALA) most recent quarterly survey. For the seventh straight quarter, GALA asked its members (language services and technology providers) about the economy and its impact on business, allowing the association to draw a picture of the effect the recession has had on the language and localization industry.
When GALA began tracking the impact of the recession on the industry in the second quarter of 2008, the economic downturn was not yet called a recession and was generally limited to North America. At that time, GALA members were growing significantly, sales were steady and outlooks were overwhelmingly positive. That view continued throughout 2008 and then took a dramatic downturn in the first quarter of this year. Overall, the surveys indicate that 2009 has been a very difficult year for the language services industry, but that 2010 will be a year of growth.
As in past quarters, members were asked, “Is your business directly impacted by the current global financial crisis?” This quarter the response was again affirmative with 72 percent of respondents reporting a direct impact. This number continues to decrease ever so slightly – 75 percent reported a direct impact in the third quarter ...
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